S&P 500 hits record as Wall Street bets the Fed will lower interest rates, Dow surges 250 points

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S&P 500 hits record as Wall Street bets the Fed will lower interest rates, Dow surges 250 points
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Breaking: The S&P 500 just surged to a record high of 2,954.33.

was up 1.1%. The Dow was also within 1% of its record high, while the Nasdaq remained 1.3%.

Market participants viewed the overall tone from the U.S. central bank as more dovish than expected. TradersLucas Jackson | Reuters The dollar also took a hit against other major currencies. The dollar index dropped 0.5% to 96.62, led by a 0.7% slide in the euro. The yen and Canadian dollar also rose against the U.S. currency.

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